Avoro Capital Advisors LLC Acquires New Shares in Bicycle Therapeutics plc (NASDAQ:BCYC)

Avoro Capital Advisors LLC purchased a new position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 700,000 shares of the company’s stock, valued at approximately $14,168,000.

A number of other institutional investors have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after purchasing an additional 2,858 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Bicycle Therapeutics in the 4th quarter worth $137,000. PDS Planning Inc acquired a new stake in Bicycle Therapeutics in the 1st quarter valued at $210,000. XTX Topco Ltd bought a new stake in Bicycle Therapeutics during the 2nd quarter valued at $206,000. Finally, Natixis Advisors LLC acquired a new position in Bicycle Therapeutics during the second quarter worth $261,000. Institutional investors own 86.15% of the company’s stock.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is owned by company insiders.

Bicycle Therapeutics Stock Down 0.4 %

Shares of NASDAQ BCYC opened at $25.41 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The stock has a market capitalization of $1.09 billion, a PE ratio of -5.71 and a beta of 0.90. Bicycle Therapeutics plc has a one year low of $12.54 and a one year high of $28.20. The business’s fifty day moving average price is $23.43 and its 200-day moving average price is $23.00.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The firm’s revenue was down 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BCYC. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada started coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Profile

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.